Baku, Azerbaijan, Feb. 22
By Maksim Tsurkov – Trend:
Capital expenditures on the South Caucasus Pipeline amounted to about $974 million in 2016 as compared to $1.1 billion in 2015, reads a report of BP’s activity in Azerbaijan in 2016.
Operating expenses for the pipeline were about $27 million in the reporting period against $47.5 million in 2015.
The report says that the pipeline capacity in 2016 was around 19.9 million cubic meters of gas per day.
The length of the South Caucasus Pipeline is more than 700 kilometers. The pipeline transports gas produced at the Shah Deniz gas and condensate field in the Azerbaijani sector of the Caspian Sea. The gas is supplied to Georgia and Turkey.
A contract for development of the Shah Deniz offshore field was signed on June 4, 1996.
The field’s reserves are estimated at 1.2 trillion cubic meters of gas.
Shareholders in the contract are BP (operator, 28.8 percent), AzSD (10 percent), SGC Upstream (6.7 percent), Petronas (15.5 percent), Lukoil (10 percent), NIOC (10 percent) and TPAO (19 percent).
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